Pangolin (PNG) price prediction after 234% surge in a day amid Bitcoin Dogs frenzy

Pangolin (PNG) surged 234% in 24 hours, hitting $0.31.
Technical indicators hint at short-term correction, but bullish momentum persists.
Bitcoin Dogs presale raises $4,241 million in slightly over a week.

Pangolin (PNG), the native governance token of the Pangolin DEX, has experienced an unprecedented surge, catapulting to multi-month highs amidst a frenzy surrounding a new canine-themed NFT project called Bitcoin Dogs that’s conducting the first of its kind ICO on the Bitcoin blockchain.

The PNG token soared by an astonishing 234% in just 24 hours, reaching highs of $0.31 as trading volume skyrocketed by a staggering 5500% as we had highlighted in our earlier news coverage.

Pangolin (PNG) price chart

 

Pangolin (PNG) price: a thrilling rally

Pangolin’s remarkable price surge marks a significant milestone for the multi-chain DEX platform, which has been gaining traction amidst the backdrop of Bitcoin’s battle to maintain the $50,000 level. The surge in PNG price is a testament to the growing enthusiasm among investors for decentralized finance (DeFi) projects, particularly those driven by community initiatives.

Pangolin’s native token, PNG, has not only seen an extraordinary uptick in price but also in its trading volume. Within a day, the 24-hour trading volume catapulted by an astonishing 5500%, soaring to over $4.7 million. This surge propelled the Pangolin market cap to over $54 million, doubling within a mere 24 hours.

PNG, being 100% distributed to the community without team, advisor, or investor allocations, has attracted a wave of interest, resulting in a substantial increase in daily trading volume.

The recent price explosion for PNG is a departure from its struggles to breach the $0.12 mark since December. It indicates a renewed activity and optimism within the community-driven project, which has been further fueled by a new team taking the reins and outlining an ambitious roadmap for Pangolin’s comeback.

Pangolin price prediction

As PNG continues its upward trajectory, investors eagerly anticipate its future movements. Technical indicators on the 4-hour chart suggest a potential correction in the short term, with the Relative Strength Index (RSI) indicating a cooling of buying pressure. However, the RSI line remains comfortably above its Simple Moving Average (SMA) line, suggesting that buyers still hold strength, leaving room for further upward movement.

Should PNG manage to close the daily candle above the $0.19895 resistance level, it may establish a strong foundation for continued growth in the following 72 hours. Analysts predict that the Pangolin price could go as high as $0.4 by the end of next week if the token maintains the current bullish momentum.

However, failure to overcome this resistance level could lead to a retracement towards the immediate support at $0.13500, potentially pushing the price back into a previous sideways channel.

Bitcoin Dogs frenzy and 0DOG presale

Amidst the excitement surrounding Pangolin’s surge, the crypto community finds itself captivated by the allure of Bitcoin Dogs, an innovative project at the forefront of the blockchain revolution. Bitcoin Dogs offers a unique blend of crypto and canine companionship, where dog lovers and crypto enthusiasts converge to trade, collect, and engage in a barking-good time.

At the heart of the Bitcoin Dogs ecosystem lies the Dogaverse, a virtual playground where users can immerse themselves in a world of playful interactions and rewarding opportunities. The 10k Ordinals NFT Club adds an extra layer of excitement, allowing users to collect and trade unique digital assets within the Dogaverse.

Currently, Bitcoin Dogs is hosting the 0DOG presale, the first-ever ICO on the Bitcoin blockchain. With prices climbing every 3 days, early adopters have the opportunity to secure their piece of the Bitcoin Dog pie at a favourable rate. The presale has already raised a staggering $4,241,493.33, with investors eagerly anticipating the next stage price of $0.0251.

To participate in the Bitcoin Dogs ICO, visit the Bitcoin Dogs website to purchase a share of the 810 million 0DOG tokens available for the presale.